Principles of Economics (MindTap Course List)
8th Edition
ISBN: 9781305585126
Author: N. Gregory Mankiw
Publisher: Cengage Learning
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Chapter 2.2, Problem 2QQ
To determine
Positive and normative statements.
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Students have asked these similar questions
Is there a need for the government to talk about Economics in layman's term? Justify and explain.
According to standard economic theory which is true?
a.
Choices people make, including the choice to eat French fries or smoke, should be respected as long as these choices do not affect others.
b.
Taxes on sugary sodas force consumers to make decisions that are privately confusing.
c.
Public intervention is always justified as long as the prevalence of the problem is large
d.
Obesity is a public problem, not a private problem, because it is associated with reduced life expectancy.
Why should design be a part of public policy? Why do you say so? Give examples to support your answers.
Chapter 2 Solutions
Principles of Economics (MindTap Course List)
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- 1. In your personal point of view, what impact, do you think, does economics have on government policy? Explain your answer with timely example.arrow_forward1. Write a short essay on Public Policy?arrow_forwardWhat was the ideal society for President Ronald Reagan? What was his view on humans? Good, bad, etc. How did Reagan affect American history/society? What were his views on economic issues?arrow_forward
- How does economic rationale and/or political/government/business insights gained from other classes, personal experiences, and/or discussions among your family of origin influence your perspective?arrow_forwardGive an example of a positive statement and an example of a normative statement that somehow relates to your daily life. t Name three parts of government that regularly rely on advice from economists Why might economic advisers disagree about a question of policy?arrow_forwardPlease include steps and explanations, thank youarrow_forward
- Give one merit and one demerit of a socialist economy?arrow_forwardEconomics is the social science that studies the choices that individuals, businesses, governments, and entire societies make as they cope with ________, the incentives that influence those choices, and the arrangements that coordinate them.arrow_forwardWhat are the answers to these problems?arrow_forward
- Use economics to explain why people smoke even though they know smoking is not good to their health?arrow_forwardThrough economic reasoning, explain the interrelationship with markets and government.arrow_forwardSelf-interested behavior can lead to positive social results. Adam Smith says that the actions of self-interested individuals produces a property called the "invisible hand" that will _____________. Select the correct answer below: A. only benefit them but not society as a whole B. reduce the overall well-being of both these individuals and society as a whole C. also lead to a promotion of the greater good D. none of the above.arrow_forward
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